Share Transfer Agreement
Transferor:
Zhao Yao (hereinafter Party A)
Transferee:
Shanxi Putai Resources Group Co., Ltd. (hereinafter Party B)
WHEREAS,
Party A and Party B have been discussing certain arrangements
under
which Party A will transfer its stock ownership in Shanxi Puda Coal Group Co.
Ltd (“Shanxi Coal”) to Party B, the parties hereto agree as follows:
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1.
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Now
Party A agrees to transfer 18% among its total 20% stock ownership
in
Shanxi Coal to Party B at a purchase price of RMB 4,050,000. Party
B will
pay the purchase price within three months of the execution of this
agreement. The closing of the transfer will occur on the date a government
approval or confirmation with respect to the transfer is received.
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2.
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3.
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This
agreement becomes effective once both parties have signed
it.
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Party
A:
/s/ Zhao Yao
Date:
September 13th,
2007
Party
B:
/s/ Shanxi Putai Resources Group Co., Ltd.
Date:
September 13th,
2007
